Topic: Alternative blockchains (Read 373 times)

banks are not only looking into the blockchain technology as a token measure. but also a way to distribute their database for security, time and cost saving.

tokens:
with current public blockchains, its about moving value from one address to another(ledger model). however it is also possible to just change a balance and then forget the old balance
EG
instead of a ledger model
origin                             destination
1ABCDaddress (0.1) -> 1PQRSaddress (0.05)
                                 -> 1ABCDaddress (0.05)

it can be a balance model instead
block 01 origin
1ABCDaddress (0.1)
1PQRSaddress (0)

block 02destination
1ABCDaddress (0.05)
1PQRSaddress (0.05)

and so even the way information is handled can totally change
infact if they went for the ledger model instead of balance, there doesnt even need to be just one currency measure(token) in some new blockchain

EG
1ABCDaddress (0.1a)(500b)(27c) -> 1PQRSaddress (0.05a)(0.0b)(0c)
                                                     -> 1ABCDaddress (0.05a)(500b)(27c)

so now you know that "transactions" and blocks can be totally different to how we use/see bitcoin, where anything is possible as long as all the different nodes receives the same information to check each other and agree to keep it(validate), then you can see anything is possible

for banks their reason to not want bitcoin is that 15mill out of 21mill is already out in the wild, that no one controls it as a whole and speculation is rampant causing volatility. no regulator will insure something uncontrolled and volatile, so banks cannot use bitcoin tokens for internal account measurements.

security, time and cost saving:
but if they create their own system.. they can control it and thus insure it. and secondly because the database(balance/ledger) is duplicated on several systems and each system validates the other, they can be more secure that one of their own employee's can't just change a balance secretly (internal fraud) and because the database(balance/ledger) has other checks and validations it will make auditing alot easier and cheaper..
this means they can literally sack 50% of their staff.. (IT security, auditors, internal investigation teams) while also increasing their security of data

Hi guys and girls.

I read fairly often about banks, companies etc experimenting with blockchain tech. Can someone who is far more knowledgable in the subject than myself explain to me how a company can use their own blockchain and not use Bitcoin.

I get it would need some kind of token based reward system but how would that work or do you think it's enevitable that eventually an existing crypto currency will be implemented such as Bitcoin but it's not being made known.


I am confused how they can create their own and it be better or work with a token/ reward infrastructure.

I hope my question makes at least some sense.

Thank you in advance.